The Baltic States are among the first in the European Union in regard to absorption of EU funds, nevertheless, Latvia is slightly behind Estonia and Lithuania, according to international business consultations company KPMG's study on the EU Structural Funds absorption rates in Central and Eastern Europe (CEE) at the end of 2013, informs LETA.

The research includes data on the European Regional Development Fund,
Cohesion Fund and European Regional Development Fund during the 2007-2013
planning period.

Estonia and Lithuania are ahead of Latvia in regard to payment ratio, while
Lithuania - in regard to contracting ratio. By the end of 2013, the contracting
ratio in Latvia was 96 percent (Estonia - 96 percent, Lithuania - 99 percent),
while the payment ratio was 70 percent (Estonia - 77 percent, Lithuania - 74
percent). The average contracting ratio in CEE is 97 percent, while the average
payment ratio in CEE is 63 percent.

KPMG senior expert in Latvia Anda Drozina explained that the Baltic States'
absorption rates are among the highest in the region. Contracting ratio in
Latvia and Estonia is lower than the average index in the region, nevertheless,
high contracting ratios does not always lead to higher payment ratios. The
difference between contracts and payments is an important efficiency indicator
in the administration of fund absorption, and the Baltic States have demonstrated
the best results in respect of this indicator, while Bulgaria and Romania are
at the bottom of the list.

From 2007 to 2013, the amount of funding available for CEE countries was EUR
174.72 billion. The largest funding was granted to Poland (38.2 percent), Czech
Republic (15 percent) and Hungary (14.2 percent). Meanwhile, 3.9 percent of the
funds were available to Lithuania, 2.6 percent - Latvia, and 1.9 percent -
Estonia.

Two forums to shape the Baltic Sea regional future One Forum is aimed at revealing the EU strategy for the Baltic Sea region up to 2030; another assembles high-level decision-makers from business, politics, academia and media to figure out some practical steps for implementing a “futurist strategy”. The former is gathering for the 7th time, the latter for the 18th; both are taking place this week in Stockholm, Sweden